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2010 (6) TMI 591 - AT - Income TaxBest Judgement Assessment - Carriage contractor-Held that:- The flat GP rate or net profit can very well be applied by the AO as it is mandated under section 145 of the Act if the assessee fails to support his trading results by production of books of account. However in the interest of justice rate applied should be in comparison with rate of various other assessees dealing in the same trade. Partly decided in favor of the assessee.
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